This property is a massive land play. You’re sitting on an oversized 11,770 square foot lot (0.27 acres) just two blocks from the University of Miami. In this pocket of South Miami, land is the primary driver of value because it's so scarce.
While the 3-bedroom home is updated, a significant chunk of that $895,000 price tag is in the dirt. Based on local teardown trends and the $355k lot comp nearby (which likely represents a base land value), this specific oversized lot is likely worth $550,000 to $650,000 on its own.
| Property Aspect | Value/Detail |
| :--- | :--- |
| Total Lot Area | 11,770 Sq Ft (0.27 Acres) |
| Estimated Land Value | $550k - $650k |
| Price Per Lot Sq Ft | ~$76.00 |
| Proximity to UM | 2 Blocks |
Because most neighboring lots are smaller (around 8,000 SF), your extra 3,000+ square feet provides a huge advantage. You have enough room to add a pool, a guest house (ADU), or even park a boat without feeling cramped.
If you’re looking at this as a developer, the underlying land value provides a safety net. You could eventually scrape the existing structure and build a modern 3,000+ SF home that would likely trade for well over $1.5M in today’s market.